State of the Economy Update
Well, here's a quick economics news roundup
Alan Greenspan has also noted that America might be facing its worst financial crisis since World War II. What? Will the media address this by focusing on global market comps, or will all the troubles be blamed on George W. Bush, tax cuts, and, of course, Iraq?
"One thing is for certain, we're in challenging times,' the president said after meeting with Treasury Secretary Henry Paulson and other senior economic advisers. "But another thing is for certain: we've taken strong decisive action."
The president commended the Fed for its urgent actions over the weekend. He said that "we've shown the country and the world that the United States is on top of the situation."
2 comments:
Oh no...don't burst our happy bubble. We are all getting money from the government to go on a shopping spree and that will make it all better. Right?! (sorry for the sarcasm)
Right...I wonder what Bush means by "strong decisive action" - I guess the Fed's rate cut part of the Bush scheme, yet are we truly "on top of the situation"? I don't think so.
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